Saudi billionaire Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud is already the largest non-Murdoch shareholder in News Corporation and he has numerous other media investments in the Arab world and elsewhere. Now his Kingdom Holding Company (KHC) has acquired a large stake in Twitter.
After “several months of negotiations and comprehensive due diligence” KHC announced on Monday (12/19) that it had made an investment of $300 million in privately-owned Twitter.
“Our investment in Twitter reaffirms our ability to identify suitable opportunities to invest in promising, high-growth businesses with a global impact,” said Prince Alwaleed.
“We believe that social media will fundamentally change the media industry landscape in the coming years. Twitter will capture and monetize this positive trend,” added Eng. Ahmed Halawani, KHC Executive Director of Private Equity and International Investments.
Twitter currently claims to deliver 250 million “Tweets” (bursts of information of 140 characters or less) daily from more than 100 million registered users.